The Worlds Wealthiest People Should Fear Big Data

November 24, 2017

One of the strengths that the planets elite and wealthy have is secrecy. In most cases, average folks and media don’t know where big money is stored or how it is acquired. However, that recently changed for The Queen of England, several Trump cabinet members, and other powerful men and women. And they should be afraid of what big data and search can do with their info, as we learned in the Guardian’s piece, “Paradise Papers Leak Reveals Secrets of the World’s Elite Hidden Wealth.”

The story found a lot of fishy dealings with political donors and those in power, Queen Elizabeth having tax-free money in the Caymans and more. According to the story:

At the centre of the leak is Appleby, a law firm with outposts in Bermuda, the Cayman Islands, the British Virgin Islands, the Isle of Man, Jersey and Guernsey. In contrast to Mossack Fonseca, the discredited firm at the centre of last year’s Panama Papers investigation, Appleby prides itself on being a leading member of the “magic circle” of top-ranking offshore service providers.

 

Appleby says it has investigated all the allegations, and found “there is no evidence of any wrongdoing, either on the part of ourselves or our clients”, adding: “We are a law firm which advises clients on legitimate and lawful ways to conduct their business. We do not tolerate illegal behaviour.

Makes you wonder what would happen if some of the brightest minds in search and big data got ahold of this information? We suspect a lot of the financial knots this money ties to keep itself concealed would untangle. In an age of increasing transparency, we wouldn’t be shocked to see that happen.

Patrick Roland, November 24, 2017

Comments

One Response to “The Worlds Wealthiest People Should Fear Big Data”

  1. Michael S Goodman on November 25th, 2017 2:39 pm

    Even just finding a way to siphon off a fraction of a percentage point of the interest that these parasites receive would do wonders!

Got something to say?





  • Archives

  • Recent Posts

  • Meta